Shandong's GDP grows 3.6% in 2020

According to the news briefing held on Tuesday, Shandong’s annual gross domestic product (GDP) reached 7.3129 trillion yuan, an increase of 3.6% over that of 2019 calculated at comparable prices.

Yu Chenghe, deputy secretary general of Shandong Provincial Government said that the economic operation of Shandong province showed a trend of recovery and turnaround as a whole, and the main economic indicators were higher than the national average and better than expected.

The unified calculation results of GDP showed that in 2020, Shandong’s GDP reached 7.3129 trillion yuan, an increase of 3.6 percent over that of 2019 calculated at comparable prices. By industry, the added value of the primary industry was 536.376 billion yuan, up 2.7%; The added value of the secondary industry was 2861.219 billion yuan, up 3.3%; The added value of the tertiary industry was 3915.305 billion yuan, up 3.9%. The industry structure of the province was adjusted from 7.3:39.9:52.8 in 2019 to 7.3:39.1:53.6.